- Posted in: Precious Metals Reports
This week’s market report for precious metals November 15-21 shows overall decreases across the board for precious metals compared to closing on November 14. Investors expect a small boost in precious metals spot prices, driven mainly by a slightly weaker dollar. The dollar climbed for ten days ending on Monday, November 21, thanks in part to optimism surrounding Trump’s position on supporting business. However, it has fallen off slightly since then. A weakened dollar would bode well for precious metals.
There is little doubt at this point that the Fed will decide to raise interest rates when they meet in December. This would support and re-strengthen the dollar. With a short trading week ahead, the Fed’s course is likely set by now.
Trump’s presidential policies at this point may be somewhat unpredictable, but they are almost certain to favor businesses and entrepreneurship. Interestingly, gold showed a tendency to rise in the third week of November following the initial elections of both George W. Bush and Barack Obama. If the same happens after Trump’s election, gold could rise until at least the end of November this year.
Gold started on the 15th at $1,228.90 and stayed relatively stable until dropping on the 18th to $1,211. As of Monday, the price had rebounded to $1,219.20.
Silver started the week at $17.1950, but dropped to $16.51 by close of market on the 18th. Monday’s price reached$16.84 before the market closed.
Platinum started last Monday at $940.00. Prices remained fairly level in the mid 930s until Friday, when it closed at $923.00. On Monday the 21st, it was back up to $941 before close of the market.
Palladium was a bright spot in the precious metals market this week, rising from $677 on Monday, November 14 to $714 on the 18th. Before the market closed palladium prices were at $728.
If you would like to learn more about the precious metals market, or would like to add some tangible assets to your investment or collection contact a GMRgold representative today at (877) 795-9585 today or browse our large selection of products right here on GMRgold.com.